TradeCard in pact with Taiwan firm
Journal of Commerce

December 1, 1999 - TradeCard Inc. has entered into a partnership with Information Technology Pioneer International Inc. in Taiwan.

With a series of imminent partnership agreements, TradeCard is moving closer to its goal of establishing a global e-commerce financial network.

A week before the Taiwan deal, it signed an agreement with Tradelink to begin a secure, online network in Hong Kong.

The TradeCard network provides global traders with a documentary compliance and settlement system with a payment guarantee that allows them to extend their reach into new markets.

Beginning next year, Taiwan's businesses can register with ITPII to become TradeCard members. This will allow them to carry out trade transactions with other TradeCard members around the world.

ITPII also will provide application service and support. "ITPII and TradeCard are perfect partners because we share the goal of helping trading companies to be more efficient and competitive," said Kurt Cavano, TradeCard 's chief executive.

The first step toward becoming an approved member of the TradeCard network is to complete an online application. TradeCard reviews all applicants' data according to an established set of criteria. Once approved, members may access the secured network.

When a buyer and a seller agree to do a deal, the TradeCard system allows them to negotiate contract terms and conditions online. Once the seller formally approves the terms of the purchasing contract, a payment guarantee is attached to each purchase order ensuring that the buyer will make the payment automatically after receiving the goods.

ITPII was founded in Taipei by the Institute for Information Industry in 1979 to design the interbank online operating system for the banking industry. More than 45 percent of Taiwan's banks are ITPII customers.